Paragon 28, Inc. (NYSE:FNA) Short Interest Update

Paragon 28, Inc. (NYSE:FNA) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a decrease of 20.0% from the February 13th total of 1,800,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 1.0 days.

Paragon 28 Price Performance

Paragon 28 stock opened at $13.03 on Monday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -17.60 and a beta of 1.54. The firm’s fifty day moving average is $12.32 and its 200 day moving average is $9.52. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. Paragon 28 has a 52-week low of $4.65 and a 52-week high of $13.13.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $71.75 million for the quarter, compared to analysts’ expectations of $70.81 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. Sell-side analysts forecast that Paragon 28 will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stephens reissued an “equal weight” rating and issued a $13.00 target price (down previously from $14.00) on shares of Paragon 28 in a report on Thursday, January 30th. Canaccord Genuity Group set a $13.00 target price on shares of Paragon 28 in a report on Wednesday, January 29th. Needham & Company LLC reissued a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a report on Wednesday, January 29th. Finally, William Blair downgraded shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.20.

Insiders Place Their Bets

In other news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $13.04, for a total value of $13,617,606.80. Following the transaction, the insider now owns 7,810,588 shares of the company’s stock, valued at approximately $101,850,067.52. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,875,984 shares of company stock worth $24,359,971 over the last three months. 15.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FNA. Venturi Wealth Management LLC bought a new position in Paragon 28 during the fourth quarter valued at $36,000. AlphaQuest LLC increased its position in Paragon 28 by 33.6% during the fourth quarter. AlphaQuest LLC now owns 3,680 shares of the company’s stock valued at $38,000 after acquiring an additional 925 shares during the last quarter. State of Wyoming increased its position in Paragon 28 by 37.4% during the fourth quarter. State of Wyoming now owns 4,359 shares of the company’s stock valued at $45,000 after acquiring an additional 1,187 shares during the last quarter. Intech Investment Management LLC bought a new position in Paragon 28 during the third quarter valued at $70,000. Finally, KLP Kapitalforvaltning AS bought a new position in Paragon 28 during the fourth quarter valued at $94,000. Institutional investors own 63.57% of the company’s stock.

Paragon 28 Company Profile

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.